General Dynamics (NYSE: GD) Chairman and CEO Jay Johnson will retire from the company on Dec. 31, the company announced Thursday.
President and Chief Operating Officer Phebe Novakovic will succeed Johnson in both roles Jan. 1, 2013.
She started those roles in May after previously serving as executive vice president of the marine systems group, which includes subsidiaries Bath Iron Works, Electric Boat and NASSCO.
Johnson originally joined the company in 2003 as a director after a 32-year Navy career that included four years of service as chief of naval operations.
He served as vice chairman of the board from September 2008 to July 2009, when he succeeded Nicholas Chabraja as president and CEO, and became chairman in May 2010.
Before joining General Dynamics, he held executive positions at Dominion Resources for six years, including as CEO for Dominion Virginia Power from October 2007 to September 2008.